Three important issues that practitioners need to be aware of are coming to the fore: (1) fiduciary responsibility of trustees of irrevocable life insurance trusts (ILITs); (2) the increase in the income and capital gains tax rates coupled with the utility of private placement life insurance (PPLI) and private placement variable annuities (PPVA); and (3) the valuation of life insurance policies when transferred by gift, distribution or sale. Here’s an overview of these three ...

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